Business

New furniture store announced in Strip District

By By Tim Schooley – Reporter, Pittsburgh Business Times
New furniture store in the Strip District The block-long one-time produce terminal building at 1900 Smallman has a new owner and will soon have a new local furniture store in a location across from McCaffery's The Terminal redevelopment across the street. (TIM SCHOOLEY, Pittsburgh Business Times)
By By Tim Schooley – Reporter, Pittsburgh Business Times

PITTSBURGH — An affiliate of FourPenn Partners, a Ross-based real estate firm lead by local real estate industry veteran Mike Locke, has bought and is bringing new commercial activity to a key building on Smallman Street.

FourPenn Partners closed on a one-time produce terminal building at 1900 Smallman that totals 20,000 square feet yesterday, paying $3.2 million, or $160 per square foot.

Mike Locke, managing partner for FourPenn Partners, noted how the property was right in the middle of so much happening in the Strip District right now as part of the appeal in a deal motivated by a tax-driven need to buy a property after selling a flex property in Cranberry Township.

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